Rishi Sunak wins race to become the UK’s new prime minister

Rishi Sunak will become the United Kingdom’s new prime minister after winning the ruling Conservative Party’s leadership contest, which was triggered by the resignation of Liz Truss last week.

Sunak’s win on Monday came days after Truss’s resignation after her disastrous tax cuts plans and policy U-turns plunged the markets into chaos. The unprecedented economic crisis drew a rare intervention from the Bank of England.

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